Stifel Independent Advisors, LLC

Stifel Independent Advisors, LLC is a registered investment advisor subsidiary of Stifel Financial Corp. (NYSE: SF). It houses financial advisors who operate under an independent contractor model, as distinct from the employee-advisor structure of Stifel, Nicolaus & Company. The entity is part of Stifel's broader wealth management segment, which reported over $400 billion in client assets under management as of fiscal 2024 (per Stifel Fiscal 2024 Annual Report).

No. Stifel Independent Advisors does not publish a standalone AUM or client asset number. Client assets held by advisors operating under this entity are aggregated into Stifel Financial's total wealth management segment figures. The firm's structure does not require separate disclosure of assets under management at the subsidiary level.

Advisors under Stifel Independent Advisors operate as independent contractors, maintaining their own business under the Stifel brand, compliance framework, and platform. This contrasts with employee advisors of Stifel, Nicolaus & Company, who are W-2 employees with office space and support provided by the firm. The independent model gives advisors more control over their practice's economics but requires them to assume more operational responsibilities.